Surveillance: Certain Recession with Laidler
Bloomberg Surveillance
00:00
What's the Biggest Trade Opportunity Right Now?
I think most of that is poor liquidity, positioning and sterling being very one way. We have to watch out for that cliff edge. What happens to the UK rates market once a QE program comes to an end? I think price discovery is still in effect. There's a fundamental terms of trade shift that points to euro being at 90 cents by the end of this year. It looks like everything we saw in August, we had these big drawdowns in the long dollar trade but the trend is still there.
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